Homeowner's Academy

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10 Ways to Save Money Around the House

by BROOKE GOLD HASSON | Aug 25, 2014

iStock_000003126716Medium-300x199Oh, the joys of being a homeowner. While the freedom, sense of accomplishment and fulfillment that come with owning your own home are priceless, everyday expenses can add up.

Here are some clever home hacks that will help you continue to appreciate being a homeowner without breaking the bank.

1. Lower the temperature on your hot water heater

120 degrees Fahrenheit is the optimum temperature for your hot water heater, and the vast majority of people never use water hotter than that. By lowering the temperature to 120 degrees Fahrenheit, you can lower your heating and electricity costs while still maintaining hot water.

2. Use a water heater blanket

Water heater insulation is essential in maximizing energy efficiency in water heater usage. Using a water heater blanket ensures proper insulation and reduces your energy bill.

3. Install ceiling fans throughout your home

Ceiling fans are a low energy way to stay cool and keep air moving throughout your home. By using ceiling fans, you can reduce the amount of air conditioning you use – resulting in lower utility costs.

4. Hang up your clothes

Believe it or not, dryers generate some hefty energy costs. By hang drying some your clothes, you can decrease the amount of energy needed to run the dryer which, in the long run, will save you money and even avoid those nasty shrinking fiascos.

5. Take shorter showers

The average shower uses about 5 gallons of water per minute. By shortening your showers by just a few minutes, you can conserve many gallons of water and lower your water bill.

6. Use energy efficient appliances

By investing a little bit more money in energy efficient appliances, you can save a lot of money down the road. These machines not only last longer; they also use significantly less energy than their standard counterparts.

7. Make sure all vents are clear

If dust or other obstacles are present near vents in your home, heating and cooling units are thrown into overdrive. Be sure to clear out any obstructions to improve airflow and efficiency.

8. Rid your home of Vampire Power

Ever wonder why your phone charger is warm, even though it’s not charging anything? That is because power is still running through it. One electronic device drawing “Vampire Power” won’t single-handedly cause your electric bill to skyrocket, but dozens of devices can certainly have an impact. Save up to 10% on your energy bill by unplugging power strips and devices, such as laptops and TVs, from the wall.

9. Replace incandescent bulbs with CFLs

CFLs, or compact fluorescent bulbs, use significantly less energy and last much longer than traditional incandescent bulbs. CFLs also require less maintenance and replacement, meaning more money in your pocket.

10. Program your thermostat

Program your thermostat to energy-saving settings to avoid unnecessary heat and air conditioning costs.